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THE VENTURE CENTRE / LE CENTRE DE DÉVELOPPEMENT 

LOAN/INVESTMENT APPLICATION 


ADMINISTRATION FEE AND INTEREST CHARGES: 

A one- time administration fee of 1% of the current loan amount may be charged on all advances and guarantees. 

The regular rate of interest to be applied on any investment/loan from the investment fund shall be 10%. 


LIMITS OF FINANCIAL ASSISTANCE: The total amount of assistance provided to any eligible applicant or business will not normally exceed $250,000.00. 


ELIGIBILITY CRITERIA: Financial assistance shall only be provided by The Venture Centre/Le Centre de développement to business projects: 


• That would employ predominantly local people residing in the catchment area of The Venture Centre/Le Centre de développement in respect to jobs created or maintained. 


• In the judgment of The Venture Centre/Le Centre de développement, have a reasonable expectation of economic and commercial viability. 


• Must first apply to a commercial lending institution and shall not be provided with financial assistance unless they are unable to obtain adequate funding from them. 


• Business enterprises applying for assistance are to be located or proposing to locate within the designated boundaries of The Venture Centre/Le Centre de développement. 


• Must be suitable for public funding (eg: not involved in the commercial exploitation of sex, religion, politics or illegal activities). 

LEGAL AND OTHER FEES: 
Documentation will be prepared by a solicitor chosen by The Venture Centre/Le Centre de développement and any and all fees are the responsibility of the client. 

A copy of the applicants photo ID will be required for our files. 


REPAYMENT:  Payments are due on the 15th of each month and will be via automatic debit to the client’s bank account. Late or returned payments are subject to a fee. 


I/WE HEREBY ACKNOWLEDGE THE AFOREMENTIONED POLICY: 

APPLICANT INFORMATION
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Suite 207 – 38 Pine St. N.
The 101 Mall
Timmins, ON
P4N 6K6

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Phone: 705-360-5800
Toll Free: 800-966-9461
Facsimile: 705-360-5656
Email: info@venturecentre.on.ca

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